Da Nang police arrest man for illegal usury

Da Nang police have arrested and detained Nguyen Hai Dang for illegal usury in civil transactions. Since September 2025, Dang provided over 300 loans to more than 50 people in the Da Nang area, with total transactions exceeding 1 billion VND and illicit profits totaling over 300 million VND.

Dang utilized social media to target borrowers, using advertisements for “flexible financial solutions” and “24/7 flexible financial support” to lure individuals into high-interest traps. Investigations revealed that interest rates reached as high as 450% per year.

This is not the first offense for the suspect; Dang previously served an 18-month prison sentence in 2022 for the same crime. After completing his sentence, he returned to illegal lending activities in Da Nang without registering his residence.